According to an article by Colleen Taylor at GigaOm, digital textbook startup Inkling just raised $17 million. As Inkling did not disclose the amounts of the two previous rounds it is hard to say how much money the startup raised in total but it will still be far less than its competitor Kno which raised about $90 million in total according to CrunchBase.
The goal of this funding round for Inkling is to build a sustainable, standalone business. The money will be used to grow staff and expand the offices allowing the startup to double down on its approach.
Although the competition looks quite daunting, especially with Amazon and Barnes and Noble entering the textbook market through their renting services Inkling has a quite competitive edge through its approach of re-thinking the textbook for the digital age. Other than just turning classic textbooks into pdf versions and adding some social features to the interface, Inkling is completely rebuilding the textbook and inserts interactive content, 3D models, videos and audio.